Charging section for capital gains is:
ASection 22
BSection 28
CSection 45
DSection 56
Answer & Solution
Correct answer: C. Section 45
1. Section 45 is the charging section for capital gains.
2. Profits/gains from transfer of a capital asset effected in the PY are chargeable.
3. Capital gains are deemed income of the previous year in which the transfer takes place.
_Source: ICAI BoS CA Final Paper 7, Ch 4 "Capital Gains"_
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